Einhorn’s FOF Re-positions Portfolio, Makes New Seed Investment In Year Marked By “Speculative Exuberance”
It has not just been rough year for David Einhorn's own fund. Einhorn's Greenlight Masters fund of hedge funds was down 3% net for the first half of 2020, matching the S&P 500's return for those six months. In his August letter to investors, which was reviewed by ValueWalk, the Greenlight Masters team noted that Read More
As of Nov 30’ 2012, the stock for ACNB Corporation (NASDAQ:ACNB) stood at USD 16.26, representing a total market capitalization of USD 96.9 million. The stock has traded between a range of USD 13.34 and USD 17.00 over the last 52 weeks. The stock has witnessed an average volume of 3,861 shares over the last 3 months.
BOK Financial Corporation, a financial holding company, offers a range of financial products and services in Oklahoma, Texas, New Mexico, Northwest Arkansas, Colorado, Arizona, and Kansas/Missouri. The stock for BOK Financial Corporation stood at USD 55.04 as of 30th Nov’ 2012; representing total market capitalization of USD 3.75 billion. The stock has traded between a range of USD 52.10 and USD 60.00 over the last 52 weeks. The stock has witnessed an average volume of 59,846 shares over the last 3 months.
The stock for ACNB Corporation (NASDAQ:ACNB) has been trading at a price to earnings ratio of 11.8, a price to sales ratio of 2.36, and a price to book ratio of 0.95. In comparison, the stock for BOK Financial Corporation (NASDAQ:BOKF) has been trading at a price to earnings ratio of 11.2, a price to sales ratio of 2.74, and a price to book ratio of 1.26, whereas the stock for Commerce Bancshares, Inc. (NASDAQ:CBSH) has been trading at a price to earnings ratio of 12.63, a price to sales ratio of 3.23 and a price to book ratio of 1.43.
- For 9MFY12, the net interest income totaled USD 25.75 million as compared to USD 25.72 million for the corresponding period last year; representing an increase of USD 33,000, or less than 1%. The increase in net income was due to a decrease in interest expense to a slightly greater degree than the decrease in interest income, both resulting from reductions in market rates associated with the continued low rates, due to economic conditions and actions by the Federal Reserve Bank.
- The provision for loan losses was recorded at USD 3.375 million for 9MFY12, as compared to USD 3.61 million in the corresponding period last year; representing a YoY decrease of 7%. The decrease was a result of analysis of the adequacy of the allowance for loan losses; however, this decrease is not necessarily indicative of future provisioning.
- Total assets were recorded at USD 1.06 billion as of 30th September ‘ 2012 as compared to USD 1.004 billion as at 31st December 2011.
- During 9MFY12, average earning assets increased to USD 953.3 million from USD 912.3 million during the corresponding period last year.
- Factors to Watch Out For:
- Growing asset base!
- Strong financial performance!
- Weak US Economy Outlook!